Industry
A new Deloitte LLP survey out of the United Kingdom shows that consumers want their products personalized, with the greatest interest voiced by those aged 16 to 30. Mass personalization is set to become a reality, with 36% of surveyed consumers reporting they are interested in personalized products or services, notes a press issued Friday […]
By Canadian Underwriter | July 27, 2015
2 min read
Fiat Chrysler Automobiles (FCA) announced on Friday that it was conducting a voluntary safety recall to update software in approximately 1.4 million U.S. vehicles equipped with certain radios. The recall “aligns with an ongoing software distribution that insulates connected vehicles from remote manipulation, which, if unauthorized, constitutes criminal action,” FCA said in a press release. […]
By Canadian Underwriter | July 24, 2015
A law firm with offices in Windsor, Ont. and Toronto has filed a $410 million class-action lawsuit against Uber X and Uber XL on behalf of all taxi and limousine drivers, owners and brokers licensed in Ontario. Sutts, Strosberg LLP filed the lawsuit on Thursday with the Ontario Superior Court of Justice, the law firm […]
The United States-based Chubb Corporation reported Thursday that consolidated net income for the second quarter of 2015 was US$494 million, down slightly but in line with US$499 million for the same quarter of 2014. “Net income for the second quarter of 2015 reflected net realized investments gains of US$20 million before tax,” notes a statement […]
3 min read
The rise of autonomous and semi-autonomous cars will change the nature of car ownership and challenge the auto insurance market to develop new business models, the London, United Kingdom-based Lloyds Market Assocation (LMA) said this week. Speaking at an LMA event at Lloyd’s of London, David Powell, the LMA’s non-marine manager, outlined how advances in […]
By Canadian Underwriter | July 23, 2015
Allied World Assurance Financial Holdings AG released Wednesday its financial results for the three months ending June 30, reporting an 8.9-point deterioration, year-to-year, in its Q2 combined ratio, US$25 million in windstorm catastrophe losses in Australia and a 9.6% increase in gross written premiums in its North American business, due in part to growth in […]
Barriers to entry into property and casualty insurance markets are being eroded, demanding that insurers innovate or face the potential that the p&c industry could diminish in size at an accelerating rate, cautions a new study by Conning. This erosion is taking place as risk data becomes more widely available and as new capital sources […]
The federal government announced on Wednesday $142.6 million in cybersecurity funding – in addition to the $94.4 million for cybersecurity identified in Economic Action Plan 2015 – making a total investment over the next five years of $237 million. Steven Blaney, Canada’s Minister of Public Safety and Emergency Preparedness, joined John Manley, president and CEO […]
Guy Carpenter & Company, LLC has announced the availability of the latest version of its reserve risk modelling solution, a faster and more flexible tool designed to help users aggregate reserve risk in a portfolio. MetaRisk Reserve 4.5 allows users to more easily combine multiple lines of business and supplement Guy Carpenter’s Annual Risk Benchmarks […]
ClaimsPro, Canada’s largest independent adjusting and claims management company, announced on Thursday that it is becoming a member of the Canadian Independent Adjusters’ Association (CIAA). ClaimsPro, has not historically participated as a member of the association, which was formed in 1953. The Toronto-based CIAA was created as an industry body established to promote and represent […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
